Joel Strom

Family Business Counseling

Family business can be both a blessing and a curse. Even the best-managed family businesses and those seeming to have the perfect family relationships sometimes need help. Family issues arise, business growth creates new challenges, business slowdowns create added stress and disagreements, and the list can go on and on.

Ignoring those symptoms is never the right answer. They must be confronted and dealt with for the sake of the business and for the sake of family harmony. An even better approach is to anticipate the potential areas of conflict and address them before they happen. So whether you are fighting the symptoms or want to proactively ward them off, I can help you ensure peace and success in your family business.

My success is based on knowledge and personal experience with closely held family businesses. I have been there; I have known the great feeling that comes with a well-functioning, well-managed family business and the agony that accompanies a dysfunctional family business.

Succession Planning

Operational succession planning is important to ensuring a well functioning family business. It is however, also important in its own right. There are way too many stories of companies that have not survived simply because of the lack of succession planning by the owners. Not having a succession plan is not fair to your family or your employees (having a will is not the same as having a succession plan). Not having a plan puts your company and everyone associated with it at risk.

It is never too soon (or too late) to plan for the operational succession of your business. But like any other type of planning, operational succession planning requires a strong commitment to spending the time and energy needed to develop the plan and even more importantly to implement it. It demands the same attention and priority as any process that can affect the future of your business.

Implementing a strong succession plan can increases the long-term value of your business and ensure the business that you are building through years of hard work rewards you and your family for many years into the future.


Growth Planning

Family Business and Succession

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